Buying a New Built Home
Do you need a Realtor representing you when buying a new home from a builder? Technically, no, but then you would have no one on your side. As a Buyer’s Agent, your Realtor is representing your interest when you purchase any home, new construction, resale or a repo, and in most every case, your agent is paid by the seller or listing brokerage.
The sales price is no different if you are represented by your own agent or if you work directly with the builder’s staff at the sales office. With the price not being any different, and the builder paying your agent, there is no reason not to be represented when you are buying a new home from a builder. The builder’s sales staff are usually very knowledgeable and friendly, but they are looking out for the builder, not the buyer.
In many cases, you can’t change what is being offered by the builder, but having another set of eyes involved on your side is beneficial in several ways. First, in helping you decide what options make sense for you to get, your Realtor can give you advice on what items will help down the road for resale, and which ones will not. That doesn’t mean that you won’t get a specific feature, but at least you will make an informed decision.
Next, your Realtor will be there with you to go over the purchase contract and help make sure you understand things. Builder contracts are written by the builder’s attorney for the benefit of the builder, so you need to make sure you understand things. You also have someone on your side all through the process so that you can ask questions or handle issues that can come up, such as if a particular option you contracted for was overlooked.
When it is time for your walk through, your Realtor provides an extra set of eyes to pick up on punch list items that need to be taken care of. Then, prior to, and at closing, you have your agent to go over and discuss your settlement figures showing all the debits and credits and the amount you need to bring to buy the home.
Most builders have specific processes for registering you and your Realtor, so be sure if you stop by a builder sales office to let them know who your Realtor is and then let your Realtor know what builder you stopped by. There is no substitute for having a professional on your team.